onbitcoin.com / August 2, 2013
Group Deals with Bitcoin on Coin Forest
It seems like every week there are new companies springing up that are taking proven business models and applying Bitcoin. Bitcoin has several advantages to these businesses: instant transactions, very low fees, and fully digital.
We sat down with the co-founder John Mardlin and Business Development Manager Brandon Gains of Coin Forest, a group-buying site that specializes in deals for Bitcoin, to learn more about their new business.
On Bitcoin: What is Coin Forest and how did you get started?
Brandon Gains: Coin Forest is a Bitcoin-only business that offers special group-buying discounts to the bitcoin community. Coin Forest is a boot-strapped startup out of Victoria, British Columbia.
John Mardlin: Coin Forest is like Groupon for Bitcoiners. Though the main difference is that we care about our community, and our primary motive isn’t profit.
I got started just by finding out about Bitcoin from an acquaintance while I was visiting San Francisco. It wasn’t the best timing really, I put about $1k into BTC at $140 in early April. We know what happened after that.
I got to thinking about how little the price of Bitcoin is really tied to it’s utility as a means of exchanging real goods and services. I also got to thinking about how effective of a differentiator the currency could be.